San Diego, CA -- (SBWire) -- 04/17/2013 --The announcement that Life Technologies Corp. agreed to be taken over by Thermo Fisher Scientific at $76.00 per shares prompted an investigation on behalf of investors who currently hold NASDAQ:LIFE shares concerning whether the proposed takeover of Life Technologies Corp. is unfair to NASDAQ:LIFE stockholders.
Investors who purchased shares of the Life Technologies Corp. (NASDAQ:LIFE) and currently hold any of those NASDAQ:LIFE shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Life Technologies Corp. breach their fiduciary duties owed to NASDAQ:LIFE investors in connection with the proposed acquisition.
On January 18, 2013, Life Technologies Corp announced that its board of directors has retained Deutsche Bank Securities Inc. and Moelis & Company LLC to assist in its annual strategic review.Then on April 10, 2013, rumors surfaced that Life Technologies Corp. got takeover offers from a private-equity groups reportedly including Blackstone Group LP and from Thermo Fisher Scientific Inc. One media report cited two unnamed people familiar with the matter saying that the bids came in at $66 to $69 a share. Then on April 15, 2013, Thermo Fisher Scientific (NYSE: TMO) and Life Technologies Corporation (NASDAQ: LIFE) announced that they have signed an agreement under which Thermo Fisher will acquire Life Technologies for $76.00 in cash per fully diluted common share, or approximately $13.6 billion, plus the assumption of net debt at close ($2.2 billion as of year end 2012).
However, the investigation a law firm concerns whether the Life Technologies Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Life Technologies’ financial performance significantly improved over the past years. In fact, Life Technologies Corp. reported that its annual Total Revenue rose from over $3.28 billion in 2009 to over $3.79 billion in 2012 and that its respective Net Income increased from $144.5 9 million to $430.86 million. In addition, Shares of Life Technologies Corp. grew from as low as$21.67 per share in December 2008 to as high as $65.24 per share in February 2013.
Those who are current investors in Life Technologies Corp. (NASDAQ:LIFE) and purchased their Life Technologies shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
NASDAQ:LIFE Investor Alert: Takeover of Life Technologies Corp. Under Investigation
An investigation on behalf of investors who hold NASDAQ:LIFE shares over potential breaches of fiduciary duties in the takeover of Life Technologies Corp. was announced and NASDAQ:LIFE stockholders should contact the Shareholders Foundation.